## Question

###### The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are...

The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 6,000 shares of stock outstanding, Market Value Balance Sheet $ 45,500 Equity 490,000 Cash Fixed assets $535,500 Total $535,500 Total 535,500 Instead of a dividend of $1.80 per share, the company has announced a share repurchase of $10,800 worth of stock. a. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Shares outstanding b. New stock price

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